The Department of Commerce Blog Entries for Category: Investing inhttp://www.commerce.gov/blog/category/2400
The U.S. Department of Commerce has a broad mandate to advance economic growth and jobs and opportunities for the American people. It has cross cutting responsibilities in the areas of trade, technology, entrepreneurship, economic development, environmental stewardship and statistical research and analysis.
The products and services the department provides touch the lives of Americans and American companies in many ways, including weather forecasts, the decennial census, and patent and trademark protection for inventors and businesses. The development of commerce to provide new opportunities was the central goal at the department's beginning in 1903 and it remains a primary obligation today.enObama Administration Seeks Applicants for First Phase of ‘Investing in Manufacturing Communities’ Partnershiphttp://www.commerce.gov/blog/2013/05/09/obama-administration-seeks-applicants-first-phase-%E2%80%98investing-manufacturing-communiti
<p><strong><em>Effort will encourage
an improved approach to economic development around the country</em></strong></p><p>The Obama
Administration today announced that it is accepting applications for the first
phase of the “Investing in Manufacturing Communities” Partnership, a <a href="/news/fact-sheets/2013/04/17/fact-sheet-investing-manufacturing-communities-partnership">new
initiative</a> outlined in the President’s fiscal year 2014 budget that will
help accelerate the resurgence of manufacturing and create jobs across the
country. </p>
<p><strong>Phase One of the
“Investing in Manufacturing Communities” Partnership: </strong>In the first
phase of this effort, the Departments of Commerce and Agriculture as well as
the Small Business Administration and Environmental Protection Agency will
award at least 25 grants of up to $200,000 each to help regions develop
long-term economic development strategies intended to create a globally
competitive environment that will attract, retain and expand investment and
spur international trade and exports.&nbsp;These “Implementation Strategies”
will encourage collaboration at the local level to identify the region’s
comparative advantages and assets, and plan investments to expand the area’s
appeal to manufacturers. &nbsp;In addition, these grants can be used to help
communities prepare for the second phase of this initiative, IMCP “Challenge”
grants.<strong>&nbsp;</strong></p>
<p><strong>Phase Two of the
“Investing in Manufacturing Communities” Partnership: </strong>President
Obama’s fiscal year 2014 budget includes funds for the Department of Commerce
to award five to six IMCP “Challenge” grants, expected to be up to $25 million
each.&nbsp; These funds are intended to be supplemented by coordinated
investments from several other federal departments and agencies. The 2014
challenge will reward communities for having the best long-term strategies for
attracting private investment and increasing exports, and should combine many
of the elements companies seek when they are deciding where to locate or
expand, such as: specialized research centers at local universities; business
incubators focused on targeted technology sectors; community college programs
to train workers in targeted industries; public works projects to upgrade
infrastructure or enhance energy efficiency; viable export promotion plans;
well-integrated supply chains; and an engaged community of local government,
education, workforce, and business leaders. &nbsp;<a href="/news/press-releases/2013/05/09/obama-administration-seeks-applicants-first-phase-%E2%80%98investing-manufact">Full release</a></p>http://www.commerce.gov/blog/2013/05/09/obama-administration-seeks-applicants-first-phase-%E2%80%98investing-manufacturing-communiti#commentsDepartment of AgricultureInvesting inManufacuringSmall Business AdministrationU.S. Environmental Protection AgencyNational Institute of Standards and TechnologyThu, 09 May 2013 14:00:00 +0000ksullivan@doc.gov15633 at http://www.commerce.gov